April 30, 2009 : Total announces that it has acquired an interest in Gevo, a Denver-based company developing a portfolio of bio-products for the transportation fuel and chemicals markets.
Created in 2005, Gevo is developing an innovative technology to convert sugars derived from biomass into higher alcohols and hydrocarbons. Gevo plans to start marketing these products, currently in the development phase, in 2011.
Total’s investment is part of a new share issue, subscribed in part by Total and, for the remaining part, primarily by existing shareholders. After the capital increase, which will finance the next stages in the company’s growth, Total will be a core shareholder.
This investment is part of Total’s recently initiated corporate venture activity.
Total and Corporate Venture
Total’s corporate venture investments are designed to support businesses developing innovative technologies and business models in areas such as renewable and alternative energies, energy efficiency and waste-to-energy processes, etc., that help to meet the challenges of the energy transition. These investments primarily consist of acquiring minority interests in start-up companies during capital increases to help finance their ongoing growth.
Tel. : +33 (0) 1 47 44 46 99 - Fax : +33 (0) 1 47 44 68 21
Send an e-mail to Media Relations